Simplus, a Salesforce partner and quote-to-cash implementation solutions provider, has raised $17.8m.
The funding includes a $9.3m Series B round and an additional $8.5m in debt financing from Silicon Valley Bank according to a statement by the company. Repeat Simplus investor EPIC Ventures led the Series B round and was joined by existing investor Salesforce Ventures, newcomer Cross Creek Advisors, and others.
A portion of the Series B Capital was used by Simplus to but consulting firm CRM Manager, its fourth Salesforce partner acquisition since receiving Series A funding in Q3 2016. The acquisition follows the purchase of BaldPeak, Basati and EDL Consulting, earlier this year.
Founded in 2005, CRM Manager is a Salesforce implementation, integration, and consulting partner with offices in Philadelphia, Pittsburgh and New York City.
Simplus is a ‘platinum Salesforce partner’, providing enterprise-wide digital transformation across the entire Salesforce ecosystem through advisory, implementation, change management, custom configuration and managed services. It provides services to a variety of industries including financial services, energy, technology, media, consumer goods, and manufacturing, among others. In the financial services industry, Simplus claims to leverage sales cloud and custom development to give firms full visibility into their data.
“We believe there is currently an opportunity for growth in the marketplace between large advisory firms and smaller consultancies,” said Ryan Westwood, CEO of Simplus. “To best serve our 2000+ clients, we will continue to acquire top-notch companies, hire exceptional talent, and expand our Salesforce services from campaign to cash. We believe the acquisition of CRM manager will help us accomplish our goals.”
So far this year, more than $3.2bn was invested in the infrastructure & enterprise software sector according to data by FinTech Global.